Lewis Barber's Blog (83)

Daily Forex Trading Commentary - Tuesday 10th June 2014

EUR/JPY - Look For Price Action Buy Signal At Support

Well the EUR/JPY market failed to push above resistance at 140.00 and is now moving back to support at 138.00 key support. Here we will watch out for a price action buy signal to trade a move to the top of this current range.

This …

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Added by Lewis Barber on June 10, 2014 at 9:23pm — No Comments

Daily Forex Trading Commentary - Wednesday 4th June 2014

EUR/JPY - Price Stalls Below Resisatnce, Sell-Stop Below Today's Low?

This market has put in a pretty impressive run higher after its big sell-off and stalled just below key resistance today. The signal we got today isn't really a great price action signal, but we may still see a sell off from these levels. A tactical way to play this would be with a sell-stop order below today's low, which will enable traders to trade any downside movement with momentum on their side.…

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Added by Lewis Barber on June 4, 2014 at 10:37pm — No Comments

Weekly Forex Trading Commentary - Sunday 1st June 2014

GBP/JPY - Small Price Action Pin Bar at Support Pops Higher, Outside Bar from Last Week Could Play Out From Here

GBP/JPY did dip back quite far following the outside bar / false-break we discussed at 170.00. Prices actually dipped below the low of the false-break bar so may have stopped traders out if they had buy-limit orders pending still. It's usually sensible to cancel pending orders if the market does not play out in 2-3 days, and this market really too 5-6 days to dip back, so…

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Added by Lewis Barber on June 1, 2014 at 9:22pm — No Comments

Daily Forex Trading Commentary - Thursday 29th May 2014

Crude Oil - Second Chance Short Opportunity Coming Up?

The Crude Oil market popped higher today back towards key resistance, this may well provide traders with second chance to look for short opportunities here with a very good risk / reward opportunity.

Hang Seng Index - Price Rejects Key Resistance, Forms Price Action Inside Bar Today

We've been…

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Added by Lewis Barber on May 29, 2014 at 10:24pm — No Comments

Daily Forex Trading Commentary - Tuesday 27th May 2014

Gold - Large Downside Breakout, Market Coses Below Key Support

The Gold market finally broke out of its consolidation range / triangle today and closed below key support at 1270. We will look for a good price action sell signal over the next few days to trade the new momentum in this market. This signal will either take the form of an inside bar or a pin bar that occurs after a retracement, keep tuned in to our commentary where we will be watching this market closely to see what…

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Added by Lewis Barber on May 27, 2014 at 9:30pm — No Comments

Daily Forex Trading Commentary - Monday 26th May 2014

AUD/USD - Consolidating Above Key Support, Looking For Price Action Buy Signal

This pair has been consolidating above key support for the last few days now and we are waiting for a good price action buy signal to join this market. There remains a high probability that this pair will start moving back to the top of it's trading range shortly and traders can wait for a price action signal on the daily or 4-hour timeframe to trigger an entry into this market over the next few days. If…

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Added by Lewis Barber on May 26, 2014 at 9:09pm — No Comments

Daily Forex Trading Commentary - Wednesday 21st May 2014

USD/JPY - Unfortunate Shake Out Here Too!

There was a nasty shake-out on this market too today, but the resulting pin bar is really quite nice. Sometimes this happens in trading, and you just have to take it on the chin. There is now another, much better signal, and therfore, it makes sense to consider trading an upside bounce from this setup. Unlike EUR/USD, this pin bar has closed much more bullish.…

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Added by Lewis Barber on May 21, 2014 at 9:43pm — No Comments

Daily Forex Trading Commentary - Tuesday 20th May 2014

AUD/JPY - Price Breaks Down Below Key Support

Price broke down below key support at 9450 today and looks to be well positioned for a new downtrend. We will wait and see if we get a small retracement before looking to short this market inline with the recent selling pressure.

Dow Jones - Making Lower Highs, Sell Off To Continue This Week?

This market…

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Added by Lewis Barber on May 20, 2014 at 9:11pm — No Comments

Daily Forex Trading Commentary - Monday 19th May 2014

USD/JPY - Bullish Price Action Pin Bar From Key Support

This pair produced a really nice pin bar from strong support today and we could definitely see a move higher from here. The most logical entry would be around the 101.35 level with stops below today's low (for educational purposes only).

This …

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Added by Lewis Barber on May 19, 2014 at 9:29pm — No Comments

Daily Forex Trading Commentary - Sunday 18th May 2014

EUR/USD - Bullish Price Action Pin Bar From Key Support

The EUR/USD produced a bullish pin bar from key support on Thursday last week and dipped back to around the 50% retracement level in Friday's trading session. There has been a lot of selling in this market over the last week or so it is advisable to be cautious here. This setup is still very well defined and at a strong support level so has a good chance of success. If traders are able to monitor intra-day price movements it…

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Added by Lewis Barber on May 18, 2014 at 9:04pm — No Comments

Daily Forex Trading Commentary - Wednesday 30th April 2014

EUR/USD - Massive Rejection of Key Support, Look For Entry On Retracement

The EUR/USD produced a massive rejection of key support at 1.3785 today as price exploded higher into the close. From here we could see a move back to key resistance at 1.3965 before price begins to run out of momentum. The most logical entry here would be around the 50% retracement entry of today's bar with stop-losses below the low - this will leave lots of room for good risk / reward on this setup (for…

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Added by Lewis Barber on May 1, 2014 at 3:43am — 1 Comment

Daily Forex Trading Commentary - Wednesday 23rd April 2014

NZD/USD - Consolidating Above Support, Pop Higher To Come?

This pair is consolidating above support at 0.8555 this week and produced a small pin bar today - could we be about to see a pop higher and retest of 0.8745 resistance? The most logical play here would be a buy-stop order above the high of yesterday's bar to trade with momentum behind us.…

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Added by Lewis Barber on April 23, 2014 at 9:47pm — No Comments

Daily Forex Trading Commentary - Monday 21st April 2014

GBP/USD - Consolidating Below Key Resistance, Trend Remains Strong

This pair has consolidated below key resistance over the bank holiday weekend but the trend still remains strong to the upside. We expect to see this market push higher this week or produce a very obvious false-break - we will wait for either scenario to play out before looking to act here.…

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Added by Lewis Barber on April 21, 2014 at 9:30pm — No Comments

Daily Forex Trading Commentary - Thursday 17th April 2014

GBP/USD - Explodes Higher From Bullish Pin Bar

The GBP/USD exploded higher yesterday following the bullish pin bar that we discussed in our market commentary on Tuesday. Today we get a counter-trend bearish pin bar from key resistance so now would probably be a good time to consider taking profit or moving stop-losses to break-even to avoid being caught out by a sell-off. This signal, though, is by no means a sell signal as the trend is still well and truly to the upside.…

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Added by Lewis Barber on April 17, 2014 at 9:21pm — No Comments

Daily Forex Trading Commentary - Tuesday 15th April 2014

GBP/USD - Bullish Price Action Pin Bar From Key Support

This pair dropped a large bullish pin bar today from the key support level down at 1.6660. We may get a dip back to intra-day support near 1.6700 before this market pushes higher again - it may well retest key resistance up at 1.6820 over the rest of this week if it can pick up some momentum.…

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Added by Lewis Barber on April 15, 2014 at 10:15pm — No Comments

Daily Forex Trading Commentary - Monday 14th April 2014

GBP/USD - Small Bullish Pin Bar From Dynamic Support

The GBP/USD produced a small bullish pin bar today as it rejected dynamic support. Tomorrow we may see a pop higher towards key resistance at 1.6800 and a continuation of the current uptrend.

This …

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Added by Lewis Barber on April 14, 2014 at 8:56pm — No Comments

Daily Forex Trading Commentary - Thursday 10th April 2014

AUD/JPY - Making Lower Highs, Deep Retracement Back To Support?

This market has made lower highs over the last few days producing two counter-trend pin bars. We may see a deeper retracement back to support near 94.00 over the next few days.

This …

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Added by Lewis Barber on April 10, 2014 at 10:00pm — No Comments

Daily Forex Trading Commentary - Wednesday 9th April 2014

S&P 500 - Market Rallies Higher From Bullish Price Action Pin Bar

The S&P 500 rallied higher today following the price action pin bar / false-break we discussed in our forex market commentary yesterday. From here we may see a retest of key resistance near 1900, which would be a logical level to look for bearish price action signals forming at the top of this trading range.…

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Added by Lewis Barber on April 9, 2014 at 10:02pm — No Comments

Daily Forex Trading Commentary - Tuesday 8th April 2014

GBP/USD - Explodes Higher Following Price Action False Break Of Key Support

The GBP/USD exploded higher today following the price action false-break that we discussed in our weekly commentary. This market is so strong now we would not be surprised to see it break above 1.6800 in the coming days / weeks. We will remain cautious though, as a false-break of 1.6800 on the daily timeframe would be a bearish development given how significant this resistance level is.…

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Added by Lewis Barber on April 8, 2014 at 9:24pm — No Comments

Daily Forex Trading Commentary - Monday 7th April 2014

DAX 30 Index - Market Tanks Lower From Bearish Price Action Pin Bar

The DAX 30 Index (and FTSE 100) tanked it massively lower today following the bearish price action pin bars we discussed in our market commentary yesterday. There is still a lot of room left for more selling in this market before running into support and we expect to see a significant move lower from current levels this week.…

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Added by Lewis Barber on April 7, 2014 at 9:43pm — No Comments

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